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    October 22, 2007

    British Energy drops on nuclear plant delays

    Filed under: Companies, Lloyds TSB, Carnival, Tullow Oil, Xstrata, Kazakhmys, BHP Billiton, British Energy, Wm Morrison, Barclay's, Vedanta Resources, Royal Bank of Scotland, Home Retail

    In London on Monday the FTSE 100 fell 1.05 percent to 6,459.3 and the FTSE 250 dropped 1.07 percent to 11,177.9.

    The biggest loser on the 100 was British Energy Group (LSE: BGY), which fell 8.12 percent to 532p on the news that two nuclear generators will be out of service longer than previously anticipated after new problems there.

    Banks were lower.

    Lloyds TSB (LSE: LLOY) was 1.2 percent lower to 530p, while Barclays Bank (LSE: BARC; NYSE: BCS; TYO: 8642) was down 1.6 percent to 580p and Royal Bank of Scotland (LSE: RBS; NYSE: RBS PRM) dropped 1.7 percent to 502p.

    Miners fell after base metals prices dropped.

    BHP Billiton (LSE: BLT; ASX: BHP; NYSE: BHP) was down 3.9 percent to £17.64 and Vedanta Resources (LSE: VED) was 5.04 percent lower to £20.54, while Xstrata (LSE: XTA) also fell 5.04 percent to £36.20 and Kazakhmys (LSE: KAZ) dropped 5.15 percent to €14.55.

    With crude oil prices also lower, Tullow Oil was down 5.79 percent to 585.5p.

    Among gainers on the day, supermarket chain Wm Morrison (LSE: MRW) was up 1.62 percent to 297.25p while elsewhere in the retail sector Home Retail (LSE: HOME) added 1.81 percent to 380p.

    Cruise line operator Carnival (LSE: CCL; NYSE: CCL) gained 1.61 percent to £22.68.





    September 18, 2007

    Alliance & Leicester adds over 32 percent

    Filed under: Companies, Lloyds TSB, Paragon, Northern Rock, Tullow Oil, Lonmin, Bradford & Bingley, Alliance & Leicester, Barclay's, Persimmon, Liberty International, Avis Europe, Venture Production

    There were gains in London’s equities markets on Tuesday.

    The FTSE 100 added 1.63 to 6,283.3 and the FTSE 250 gained 0.54 percent to 10,802.8.

    The 100 was helped out by Alliance & Leicester (LSE: AL) when the bank gained even more on the session than it lost Monday.

    A&L was up 32.17 percent to 793p, by far the best performance on the blue chip index.

    Other banks also gained although the sector was mixed.

    Northern Rock (LSE: NRK) was up 8.22 percent to 306p after two consecutive sessions of over 30 percent declines each day.

    Barclays Bank (LSE: BARC; NYSE: BCS; TYO: 8642) was 4.48 percent higher to 607p.

    On the other hand, Lloyds TSB (LSE: LLOY) dropped 1.75 percent to 504p.

    Also seeing a gain on the 100 was property investment group Liberty International (LSE: LII), which was up 5.06 percent to £11.

    House builder Persimmon (LSE: PSN), however, dropped 0.53 percent to 941p, while miner Lonmin led the losers on the 100 as it fell 4.35 percent to €31.46.

    Mortgage lenders did well on the 250.

    Paragon (LSE: PAG) was 5.86 percent higher to 302.5p, while Bradford & Bingley (LSE: BB) jumped 12.28 percent to 313.25p for the best performance of the day on the 250.

    Auto rental group Avis Europe (LSE: AVE) was 2.55 percent higher to 40.25p.

    The oil sector didn’t do as well.

    Venture Production (LSE: VPC) dropped 1.75 percent to 731.5p, while Tullow Oil (LSE: TLW; OTC: TUWLY) led the losers on the 250 with a decline of 3.95 percent to 511p.





    August 23, 2007

    Property developers lose ground

    Filed under: Companies, Lloyds TSB, Northern Rock, Schroders, British Land, Alliance & Leicester, Hammerson, SAB Miller, HBOS, Persimmon, SEGRO, WSP Group

    London’s markets were higher Thursday, although the FTSE 100 only managed a gain of 0.01 percent to 6,196.9.

    The FTSE 250, meanwhile, added 0.32 percent to 10,945.7.

    Property developers and house builders had a bad day on the 100.

    House builder Persimmon dropped 2.30 percent to £12.23 after ABN Amro (Euronext: AAB; NYSE: ABN) reduced its target share price from £17.20 to £15.30.

    Among developers, British Land (LSE: BLND) fell 2.18 percent to £12.58 while SEGRO (LSE: SGRO) was 2.4 percent lower to 529p.

    Hammerson (LSE: HMSO) was the worst performer on the 100, dropping 2.45 percent to £12.75.

    However, in a related sector WSP Group (LSE: WSH), which specializes in construction management, engineering, and consulting, added 3.13 percent to 676.5p.

    Brewer SABMiller (LSE: SAB) was 2.78 percent higher to £12.94.

    Investment manager Schroders (LSE: SDR.L) had the best day on the 100 with a gain of 4.22 percent to £13.34, while its non-voting shares (LSE: SDRt.L) added 3.32 percent to £11.53.

    Among banks, Northern Rock (LSE: NRK) was up 3.98 percent to 757p.

    Other banks seeing gains included Alliance & Leicester (LSE: AL), which added 0.19 percent to £10.61. Lloyds TSB (LSE: LLOY) gained 0.27 percent to 553.5p, while HBOS (LSE: HBOS) was 2.05 percent higher to 898p.





    July 17, 2007

    Lonmin drops on reduced target share price

    Filed under: Companies, Lloyds TSB, Schroders, Rolls Royce, Lonmin, Barclay's, Tate & Lyle, Reed Elsevier, Gyrus, Inmarsat, Ashmore

    In London on Tuesday the FTSE 100 fell 0.58 percent to 6,659.1, while the FTSE 250 was 0.98 percent lower to 11,801.

    Food processor Tate & Lyle (LSE: TATE) had the best day on the FTSE 100, adding 4.81 percent to 599.5p on an upgrade from “neutral” to “buy” from Goldman Sachs (NYSE: GS).

    Meanwhile Inmarsat, the telecommunications satellite operator, gained 5.08 percent to 434p on the FTSE 250 for the best performance there.

    The biggest loser on the day on the 100 was Lonmin (LSE: LMI), which dropped 3.89 percent to £38.30 on the 100 after both Goldman Sachs (NYSE: GS) and Deutsche Bank (FWB: DBK; NYSE: DB) lowered the miner‘s target share price.

    On the 250, investment trust Ashmore dropped 3.51 percent to 268.25p for the worst day on the 250.

    Banks saw gains.

    Barclays Bank (LSE: BARC; NYSE: BCS; :TYO: 8642) was 0.48 percent higher to 732p, while Lloyds TSB (LSE: LLOY) gained 0.53 percent to 572p.

    Gyrus Group (LSE: GYG), which makes and sells surgical supplies, added 2.73 percent to 469.75p.

    Investment managers Schroders (LSE: SDR) fell 3.61 percent to £12.80, while its non-voting shares dropped 3.22 percent to £11.41.

    Rolls-Royce (LSE: RR) was 2.83 percent lower to 548.5p after Credit Suisse (NYSE: CS; SWX: CSGN) dropped its recommendation on the airplane engine maker from “outperform” to “neutral”.

    Meanwhile, Reed Elsevier (LSE: REL; Euronext: REN; NYSE: ENL; NYSE: RUK) fell 2.81 percent to 656p on the news that it is selling its Harcourt educational division to Houghton Mifflin.





    January 26, 2007

    UK tobacco sector sees gains

    Filed under: Companies, Lloyds TSB, BAT, Xstrata, Cadbury Schweppes, Shire, Rank Group, Imperial Tobacco

    In London on Friday, the FTSE 100 dropped 0.7 percent to 6,228. This translated to a gain of 0.1 percent for the week. Meanwhile the FTSE 250 was down 0.5 percent on the day to 11,118.6, 0.4 percent higher over the week as a whole.

    The tobacco sector was higher. BAT added 1.2 percent to £15.17, while Imperial Tobacco ended 2.6 percent higher to £21.06 as Citigroup said that BAT will likely get more return to shareholders both this year and next.

    In the food and beverages sector, Cadbury Schweppes added 0.7 percent to 564p on new bids rumors that had private equity interested. US chocolate maker Hershey’s was also seen as a possible merger partner after its less-than-spectacular report earlier in the week.

    The leisure sector was also hit by merger talk surrounding Rank Group, which gained 1.6 percent to 226½p.

    Miners were lower on the day, with Xstrata the biggest loser among blue-chip stocks as it dropped 3.2 percent to £23.47. The pharmaceuticals sector was also down, with Shire falling 1.6 percent to £10.81 on a downgrade from Citigroup.

    Among banks, Lloyds TSB was 0.3 percent lower to 583½p even though HSBC issued an increased recommendation, from “neutral” to “overweight”, and set a target share price of 630p.





    January 12, 2007

    FTSE 100 gains 0.3 percent on week

    Filed under: Companies, Lloyds TSB, BP, GlaxoSmithKline, AstraZeneca, Woolworths

    The FTSE 100 ended the day and the week ahead on Friday, while the FTSE 250 saw declines for both the session and this week. The 100 added 0.1 percent during the day and was 0.3 percent higher on the week to close at 6,239. Meanwhile the 250 dropped 0.1 percent on Friday and 0.7 percent on the week to 11,111.7.

    The pharmaceuticals sector was helped by a vote in the US House of Representatives that would let the government negotiate directly with drug companies on the prices of drugs for Medicare recipients. GlaxoSmithKline was 0.5 percent higher to £13.71, while AstraZeneca gained 1.3 percent to £28.73.

    Bids rumors sent Woolworths up 3 percent to 34p. Baugur, which currently owns 10 percent of the retailer, is said to be considering offering a bid of 40p per share. Ladbrokes was helped by talk of a possible bid from private equity, gaining 2.4 percent to 449¼p.

    In the oil sector, BP was 1.8 percent higher to 546½p on the news that its chief executive will retire in July, to be replaced by the company’s head of exploration and production.

    Lloyds TSB added 1.7 percent to 593p on the possibility that its dividend could go up and after Cazenove upped its recommendation to “outperform”.





    January 11, 2007

    FTSE ends session 1.1 percent higher

    Filed under: Companies, Lloyds TSB, ITV, Enterprise Inns, Kazakhmys, BHP Billiton, Reuters, Pearson, Persimmon, Reed Elsevier, Redrow, Yell, Punch Taverns

    The FTSE 100 in London had a roller-coaster day in which it was up early, dropped after the Bank of England’s decision to raise interest rates by 25 basis points, then rallied late in the day to end up 1.1 percent higher, to 6,230.1. The FTSE 250 also ended the day higher, adding 0.3 percent to 11,123.4

    Publishers and other media stocks were up on the day. Reed Elsevier and Yell Group each added 3.5 percent on the session, to 602½p and 598p respectively. Yell was helped by positive comments from Goldman Sachs, while Reed Elsevier gained on talk that private equity might be preparing a bid. Reuters gained 3.6 percent to 451¾p. Meanwhile Pearson, which owns the Financial Times, was 3.7 percent higher to 805p. Elsewhere in media, ITV was up 2.1 percent to 109¼p on a upgrade to “buy” from Deutsche Bank.

    Banks saw gains as well, with Lloyds TSB adding 0.9 percent to 583p on rumors that either Banco Santander or BBVA could be interested.

    In the mining sector, Kazakhmys gained 3.9 percent to £10.53, while BHP Billiton was 4.9 percent higher to 930p as metals prices began to recover.

    Pubs operators declined on negative comment from Deutsche Bank. Enterprise Inns dropped 1.7 percent to £12.77 and Punch Taverns fell 3.7 percent to £11.69.

    The homebuilding sector saw losses after interest rates were hiked. Persimmon was 1 percent lower to £14.57, while Redrow fell 3.2 percent to 668½p.





    November 13, 2006

    FTSE 250 adds 0.5 percent on session

    Filed under: Companies, Lloyds TSB, Prudential, Xstrata, Kazakhmys, Rio Tinto, Antofagasta, Friends Provident, Crest Nicholson, Berkeley Group, Resolution

    London equities markets were mixed on Monday. The FTSE 100 was 0.2 percent lower to 6,194.2 as dropping metals prices sent the UK mining sector lower. Meanwhile, the FTSE 250 was 0.5 percent higher, closing at 10,712.8. It was the fifth session in a row that the 250 has done better than the 100.

    Homebuilders were mixed on the session. Berkeley Group added 6.8 percent to reach a new high of £17.02 on rumors that a consortium had bid for peer Crest Nicholson. The gain brought Berkeley’s advance over six sessions to 19 percent. Crest Nicholson, on the other hand, was 0.1 percent lower to 615p even though it was believed that its institutional shareholders will wait for a higher offer.

    The insurance sector was higher, mainly on Resolution’s announcement that it is discussing deals with several other insurers. The life assurer added 5.1 percent to 667½p. Different analysts suggested different deals, including one with Scottish Widows the life assurance division of Lloyds TSB, with the UK life division of Prudential, or with Friends Provident. The talk sent Lloyds TSB up 1 percent to 561p, while Friends Provident added 1.3 percent to 214½p and Prudential gained 2.1 percent to 651½p.

    In the mining sector Rio Tinto was 4 percent lower to £27.65, while Xstrata dropped 4.5 percent to £21.92, Kazakhmys fell 5 percent to £11.40 on lower copper prices, and Antofagasta was 5.3 percent lower to 468¼p.





    October 20, 2006

    Leisure sector sees gains

    Filed under: Companies, Lloyds TSB, Northern Rock, PartyGaming, Amvescap, Pearson, Wolfson Microelectronics, Ladbrokes, Intercontinental Hotels Group

    The London equities markets were mixed on Friday and closed out the week lower than they began. The FTSE 100 was 0.01 percent lower on the session and 2.1 points lower on the week to 6,155.2, while the FTSE 250 added 0.1 percent Friday but lost 43.1 points over the week to close at 10,356.5.

    Banks were lower, with Lloyds TSB down 1 percent to 562½p, while Northern Rock dropped 1.2 percent to £11.76 on the news that the Office of Fair Trading has recommended that the Payment Protection Insurance market be looked at by the Competition Commission. Both Lloyds and Northern Rock make from 14 to 18 percent of their profits from PPI commissions.

    Among other losers, PartyGaming was 7.2 percent lower to 29p on a disappointing trading update, while in the semiconductors sector Wolfson Microelectronics fell to 279p on a profits warning.

    Ladbrokes added 2.6 percent to 401¼p and 12 million shares changed hands on rumors that a private equity group would make a bid. Still in the leisure sector, Intercontinental Hotels Group was 2.5 percent higher to 997p.

    Amvescap gained 1.6 percent to 614p on positive comments from Deutsche Bank. Meanwhile, media group Pearson was up 0.9 percent to 784½p.





    October 16, 2006

    Lloyds TSB gains on bids talk

    Filed under: Companies, Lloyds TSB, ITV, PartyGaming, Cadbury Schweppes, EMI

    London equities markets were mixed on Monday as the FTSE 100 hit a five-year high, gaining 21 points to 6,178.3 but the FTSE 250 dropped 14.9 points to 10,384.1.

    Lloyds TSB was 1.3 percent higher to 588½p on rumors that it turned down a bid for its Scottish Widows life assurance unit from Swiss Re and Axa. Some analysts are not optimistic that such a deal would be completed, and Lloyds would not comment on the offer, which was said to have been for £8 billion.

    Also seeing a gain on the session was ITV, which added 2 percent to 102¾p on an upgrade from “equal-weight” to “overweight” from Morgan Stanley on the theory that the broadcaster’s shares have reached its low and that better news on advertisements could attract private equity.

    PartyGaming dropped 7.2 percent to 32p, a new low share price, after UBS cut its target share price on the online gamer to only 26p. Online gamers have been in a slump since the signing of legislation making most online gambling illegal in the United States.

    Among other loses on the session, Cadbury Schweppes was 1.5 percent lower to 549½p on a downgrade from “buy” to “neutral” from Merrill Lynch, while EMI dropped 0.2 percent to 269½p after a warning that the music group expects total revenues to drop by around 3 percent for the half-year that ended September 30.





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